For many
years, capitalism was distinguished from socialism as private ownership vs.
state planning. But modern Marxists,
such as Professor Richard D. Wolff, tell why those definitions are now lacking
or inadequate. Richard Wolff elaborates
on this topic in the attached video and article below. Professor Wolff states that the political
economies stemming from the Russian and Chinese revolutions were not
expressions of socialism. They were
instead expressions of state capitalism.
The state or government expropriated the ownership of private companies,
but there was still the same type of work relationships: employers or bosses
telling workers what to do.

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But in true
socialism, there is not a fixed distinction between employer and employee
because each person both works and makes company decisions: one worker, one
vote. The group decides on a continual
basis who will serve as manager, for example--on a temporary, rotational, or more
permanent basis. The group democratically
decides who should do particular tasks.
The group can change functions and roles in the company according to one's
performance and skill, as evaluated by the other group members. This is called workplace democracy.

During the
time of slavery in various parts of the world, there were both private and
public owners of slaves. During the time
of serfdom, there were both private and public lords who ruled over the serfs--a
king being a more public lord. So the
previous, traditional distinction between private and public ownership does not
rightly or properly distinguish between capitalism, state capitalism, and
socialism.

Roger Copple retired from teaching
general elementary and high school special education in 2010. He likes studying world history, political
theory, and Eastern philosophy. He
meditates and walks daily and is a vegan most of the time. His website: www.NowSaveTheWorld.com

I retired in 2010 from teaching general elementary and high school special education in Indianapolis. I am interested in studying political theory, world history, and foreign policy.
Integrating the teachings of the Bhagavad Gita, Buddhism, (more...)